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China approves scheme on fuel taxation, pricing reform

(Xinhua)
Updated: 2008-12-18 18:49

BEIJING - China has approved a long-awaited scheme on fuel taxation and reform of the country's refined oil pricing mechanism, the country's economic planner said Thursday.

The scheme, expected to be put into effect on January 1, 2009, was unveiled earlier this month to solicit public opinion.

The draft said the country would annul six types of fees on road maintenance and management. Meantime, it will raise the gasoline tax from the current 0.2 yuan each liter to one yuan per liter and diesel tax from 0.1 yuan per liter to 0.8 yuan one liter.